Waste to energy group Powerhouse Energy Group PLC (LON:PHE) has signed a commercial co-operation agreement with its US affiliate PHEA.
David Moard, a previous executive and an original founder of PowerHouse, set up PHEA, which has committed exclusively to buy and use Powerhouse’s G3-UHt unit for its Waste-to-Energy projects.
A framework agreement will set the price for the units dependent on each project, while PowerHouse has the option to sell the reactors outright or on a royalty basis.
PowerHouse can also develop its own projects and sales channels.
“Signing this agreement is a significant step forward for the company,” said Keith Allaun, PowerHouse’s executive chairman.
“We’ve been working with David in the background since the inception of the company. His knowledge of the industry, and his insight into the Hydrogen Economy, are of great value to us.
“PHEA has a strong team of engineers, a well-defined sales process, and an increasing sales pipeline, to which we are now fully exposed.”
Moard added that the G3-UHt technology, once fully developed, has the potential to become an industry changer in ultra-high temperature gasification.
Shares eased 7% to 0.89p.